Warburg Pincus invest $125 Million into LendingPoint

LendingPoint, a financial technology platform, today announced a $125 million preferred equity investment from Warburg Pincus LLC, a leading global private equity firm focused on growth investing.

Warburg Pincus has invested over $11 billion across the full spectrum of the financial services landscape, including insurance, banking, asset management, specialty finance, payments, and transaction processing. Together with the Warburg Pincus investment, LendingPoint has raised more than $325 million of equity to date.

The Warburg Pincus investment follows an impressive 2020 for LendingPoint, who ended the year profitable, closed its 10th securitization transaction, launched its SDKn platform, enhanced its point-of-sale merchant platform, and partnered with a leading global ecommerce platform to provide small business capital to their sellers.

The EU Clears acquisition of Refinitiv by the London Stock Exchange

The European Commission said on Wednesday it approved the $27bn (£22bn) acquisition of Refinitiv by the London Stock Exchange Group (LSEG).

The all-share deal will see the stock exchange group acquire Refinitiv from private equity giant Blackstone, which owns 55% of the company, and Thomson Reuters, which owns 45%.

The commission wanted to ensure that the markets will remain open and competitive and the acquisition will not lead to higher prices. In October last year, LSE agreed to sell Borsa Italiana to French rival Euronext, expecting the sale of the Italian stock exchange to help it overcome the EU regulatory obstacle of its Refinitiv buy.

CVC Agrees to sell Kount to Equifax

CVC Capital Partners announced that the CVC Growth Fund has signed a definitive agreement to sell Kount, a provider of Artificial Intelligence-driven fraud prevention and digital identity solutions, to global data and analytics company Equifax in a deal valued at $640 million.

“Kount was an industry leader when the CVC Growth Fund invested, and since then the company has gone from strength to strength under CEO Brad Wiskirchen’s leadership, more than tripling revenue during the investment period,” said Jason Glass, Partner at CVC Growth Partners.

Formed in 2007, Kount’s best-in-class fraud prevention solutions protect the customer journey and digital innovations for over 9,000 brands globally. The Company has earned recognition as a leader in digital fraud prevention, with over 13 years of data informing its advanced Machine Learning (ML) and AI-based models.

Alter Domus Acquires Strata Fund Solutions

Alter Domus, a fully integrated provider of fund administration, debt capital markets and corporate services backed by the Permira funds, today announced the acquisition of Strata Fund Solutions LLC, a leading fund administrator serving US private equity and venture capital funds.

In joining forces with Strata, Alter Domus North America leaps to top three largest private asset servicers for US alternative asset managers. This transaction also drives Alter Domus’ global assets under management over $1 trillion, making it one of the largest private asset servicers for alternative assets investors globally and an undisputed leader in the private equity and venture capital servicing space.

In December 2020, Alter Domus acquired IPS Fund Services LLC, a Boston-Based fund administrator serving private equity and venture capital funds. In the same month, Alter Domus also announced the acquisition of UK-based technology platform Credit-Vision, portfolio management and financial analysis provider for private debt investors and debt capital markets participants.

HG Invests in Prophix Software

Prophix Software, a global leader in Corporate Performance Management (CPM) software, announced an investment from Hg, a leading global software investor. The deal values the company at between $500m and $600m.

This deal will result in Prophix employees and management participating to acquire the company alongside Hg, who will hold the majority investment. This will allow staff to benefit more directly from the organization’s ongoing growth.

This partnership with Prophix reinforces Hg’s focus on mission-critical B2B software sitting at the intersection of Hg’s experience in ERP and Tax & Accounting. This transaction represents Hg’s seventeenth investment in this space in the last 16 years, with total invested capital of over $3.5 billion.

FlashParking to merge with Arrive to improve driver parking experience

U.S. parking management software maker FlashParking said on Tuesday it would merge with Arrive, an online platform that allows drivers to find and book parking spaces.

FlashParking’s software helps manage parking at airports, malls, hotels and stadiums, among other busy locations. The Austin-based company counts private equity investment firm L Catterton among its investors.

The COVID-19 pandemic has spurred demand for fully digitized and touchless alternatives to traditional parking, allowing people to find, book and pay for parking without touching a keypad.

Blackstone backed Mphasis being reviewed by Brookfield Asset Management, Bain Capital, The Carlyle Group and Permira

Private equity firms Brookfield Asset ManagementBain CapitalThe Carlyle Group, and UK-based Permira have initiated due diligence for buying a controlling stake in Blackstone-backed tech firm Mphasis, reports said.

Blackstone’s 56.16% stake alone would be valued at $2.2 billion based on the company’s current market value. A sale will trigger an open offer for an additional 26%, which, if successful, can lead to the acquirer controlling more than 80% of the company in a deal that could cost about $3.1 billion. That would make it the largest technology deal in India to date.

Blackstone is looking to cash out of its largest investment in India to date after they invested about $1.1 billion in 2016. Blackstone increased their investment in the company after its share price fell more than one-third from its year-high in mid-March in a widespread market sell-off because of Covid-19.

Thoma Bravo invests into Venafi

Thoma Bravo, a leading private equity investment firm focused on the software and technology, announced the completion of its strategic growth investment in Venafi, the inventor and leading provider of machine identity management.

“As the global digital transformation accelerates, companies are increasingly recognizing the need to secure machine-to-machine connections and communications, and they’re turning to Venafi to help them,” said Seth Boro, a Managing Partner at Thoma Bravo.

Financing for the transaction was provided by Truist Securities, Interbank, Nomura Corporate Funding Americas, LLC and Barclays.

Apax Partners LLP signs agreement to acquire software of 3i Infotech Ltd

Private equity firm Apax Partners LLP has inked an agreement to acquire the software products business of 3i Infotech Ltd. for $136 million, sealing its first India deal in almost two years.

The deal will help 3i Infotech repay all its debt, strengthen its balance sheet and expand other verticals including software services, the company said in a stock-exchange filing.

This is Apax’s first India deal in nearly two years, the data research arm of Mosaic Digital. Its previous India transaction was a $200 million investment in data analytics firm Fractal Analysis in January 2019.

Providence Equity Partners Acquires Majority Stake in 365 Retail

365 Retail Markets, a leading provider of self-service commerce technology to the foodservice industry, announced a majority investment from Providence Equity Partners, a premier private equity firm.

Providence will partner with current investor McCarthy Capital and the Company’s management team to seek to advance the unattended retail market industry, fuel product development and customer services, and continue to accelerate growth.

Founded in 2008, 365 Retail Markets provides a full suite of self-service technologies for food service operators. Today, the Company’s technology solutions – end-to-end integrated SaaS software, payment processing and point of-sale hardware.